OFG Bancorp (NYSE:OFG) Q4 2022 Earnings Conference Call January 26, 2023 10:00 AM ET

Company Participants

Jose Rafael Fernandez - Chief Executive Officer and Vice Chair

Maritza Arizmendi - Chief Financial Officer

Conference Call Participants

Alex Twerdahl - Piper Sandler

Kelly Motta - KBW

Timur Braziler - Wells Fargo Securities

Operator

Good morning. Thank you for joining OFG Bancorp's Conference Call. My name is Shelby. I will be your operator today. Our speakers are Jose Rafael Fernandez, Chief Executive Officer and Vice Chair of the Board of Directors; and Maritza Arizmendi, Chief Financial Officer. A presentation accompanies today's remarks. It can be found on our Investor Relations website on the homepage in the What's New Box, or on the Quarterly Results page.

This call may feature certain forward-looking statements about management's goals, plans and expectations. These statements are subject to risks and uncertainties outlined in the risk factors section of OFG's SEC filings. Actual results may differ materially from those currently anticipated. We disclaim any obligation to update information disclosed in this call as a result of developments that occur afterwards.

[Operator Instructions] I would now like to turn the call over to Mr. Fernandez.

Jose Rafael Fernandez

Good morning, and thank you for joining us. We are pleased to report our fourth quarter and fiscal year 2022 results. We are extremely proud of the work we did last year and our performance reflects that. We achieved great progress executing our strategies for the benefit of our customers, deploying technology, expanding and improving our network and investing in people and talent. We took major steps forward in our digital first business transformation, solidifying our position as a challenger bank, differentiating us from our competitors.

In addition to ATMs, we now have seven self service banking kiosks and 23 Interactive Teller Machines as part of our enhanced sales and service banking network. All this has contributed to our strong financial results. Our performance metrics are at the highest they've ever been to-date. The Puerto Rico economy is also doing well. Businesses and consumers remain in good financial shape. We look forward to another good year with a cautious eye as always on economic and financial uncertainties.

Now please turn to Page 3 of our conference call presentation. This was our strongest quarter this year. It was driven by total core revenue growth of more than 7% quarter-over-quarter and more than 19% year-over-year.